NEW ORLEANS, LA / ACCESSWIRE / January 3, 2023 / Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 3, 2023 to file lead plaintiff applications in a securities class action lawsuit against Enviva Inc. (NYSE:EVA), if they purchased the Company's securities between February 21, 2019 and October 11, 2022, inclusive (the "Class Period"). This action is pending in the United States District Court for the District of Maryland.
What You May Do
If you purchased securities of Enviva and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-eva/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by January 3, 2023.
About the Lawsuit
Enviva and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 12, 2022, pre-market, Blue Orca Capital reported a range of allegations against the Company including that "new discovered data suggests . . . the company is flagrantly greenwashing its wood procurement"; "Enviva is a dangerously levered serial capital raiser whose deteriorating cash conversion and unprofitability will drain it of cash next year"; and, that it is "a product of deranged European climate subsidies which incentivize the destruction of American forests so that European power companies can check a bureaucratic box."
On this news, shares of Enviva stock fell approximately 13.13% to a closing price of $51.23 per share.
The case is Fagen v. Enviva, et al., 22-cv-02844.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE: Kahn Swick & Foti, LLC